The Securities Board of Nepal (SEBON) has given its approval for the “Himalayan 80-20” mutual fund scheme, which is valued at Rs 1 Arba. This closed-end scheme will offer 10 crore unit shares with a par value of Rs 10 per share. The scheme is sponsored by Himalayan Bank Limited (HBL) and managed by Himalayan Capital Limited. It is noteworthy that this is the first mutual fund scheme to be operated by Himalayan Capital.
SEBON Adds “9% Nabil Debenture 2087” to Pipeline with Rs 3 Arba Size
SEBON, the Securities Board of Nepal, has included “9% Nabil Debenture 2087” in its pipeline. The debenture has a total size of Rs 3 Arba. Nabil Bank Limited will issue 30 lakh units of debenture at Rs 1000 per unit. Out of these, 12 lakh units are reserved for the general public, while the remaining 18 lakh units are for private placement. The debenture will provide a 9% interest rate for a duration of 7 years.
Ngadi Group Power Limited (NGPL) has proposed to offer 100% rights shares to its existing shareholders. The proposal was made during a recent Board of Directors meeting.
NGPL’s Siurikhola Small Hydropower Project, located in Lamjung District, Gandaki Province, with a capacity of 4.95 MW, has been performing well due to regular maintenance. However, additional funds are needed to maintain existing projects, settle payments, invest in new projects, attract investments, create jobs, and increase national capital.
To address this funding requirement, NGPL aims to issue rights shares in a 1:1 ratio to its current shareholders. This will increase the company’s paid-up capital from Rs. 1.85 Arba to Rs. 3.7 Arba.
Approval from the Electricity Regulatory Commission and subsequent endorsement at the Annual General Meeting (AGM) are necessary for the issuance of the rights shares.
NGPL had previously issued 150% rights shares to its shareholders.
As of July 02, NGPL shares were trading at Rs. 241.
Reliable Nepal Life Insurance has received approval from the Securities Board of Nepal (SEBON) to launch an initial public offering (IPO) with a premium. The IPO will offer shares at a price of Rs 257 per share, including a premium of Rs 157 above the face value of Rs 100. A total of 1.2 crore unit shares, valued at Rs 2,989,800,800, will be issued, representing 30 percent of the company’s paid-up capital. Civil Capital Market Limited has been appointed as the issue manager for the share offering. Currently, the company’s promoters hold a 70 percent stake in the company.
Barun Hydropower Company Limited (BARUN) has decided in its recent Board of Directors meeting to issue 100% right shares, which means one additional share for every existing share. Currently, BARUN has 5,358,150 unit shares listed on the Nepal Stock Exchange (NEPSE) and a paid-up capital of Rs. 53.58 Crores. If the issuance of the right shares is approved by the regulatory bodies and endorsed at the upcoming Annual General Meeting (AGM), the paid-up capital will increase to Rs. 1.07 Arba.
Upper Syange Hydropower Limited has announced the closure of its Initial Public Offering (IPO) for 539,500 shares with a face value of Rs 100 each. The IPO was open to the general public from July 10th, 2080, and concluded on July 13th, 2080. The company aimed to raise Rs 5.39 crore from this offering, which will increase its paid-up capital to Rs 22 crores. Out of the total 650,000 units, 10% (65,000 units) were allotted to Nepalese citizens working abroad, 5% (32,500 units) were reserved for mutual funds, and 2% (13,000 units) were set aside for the company’s employees. The remaining 539,500 units were available for the general public to purchase.
Dibyashwori Hydropower has chosen Mega Capital Market as the issue manager for its upcoming right shares offering to its existing shareholders. According to a media statement, the company will be issuing shares in a 1:1 ratio. A memorandum of understanding (MoU) was signed between the acting CEO of Mega Capital Market, Sulav Shrestha, the marketing head of the bank, Giriraj Pokharel, and the chairman of Dibyashwori Hydropower, Dadiram Niraula, along with Buddha Krishna Manandhar from the hydropower company. The signing took place during a program, as mentioned in the media statement.
“Manakamana Engineering Hydropower Limited Announces IPO for Locals and Nepalese Citizens Abroad”
Manakamana Engineering Hydropower Limited has released an offer letter for an Initial Public Offering (IPO) specifically targeting project-affected locals from Dolakha District and Nepalese citizens working abroad. The IPO will be open for subscription from the 19th of Ashad to the 2nd of Shrawan, 2080. It is important to note that if the issue is not fully subscribed by the early closing date, it may be extended until Shrawan 17 for the locals of Dolakha District. However, the early closing date will remain fixed for Nepalese citizens working abroad, and no extension will be granted beyond that date.
Dibyashwari Hydropower Company Limited (DHPL) recently held a Board of Directors (BOD) meeting where they proposed to issue 100% right shares to their shareholders. Currently, DHPL has 2,640,000 unit shares listed in the Nepal Stock Exchange (NEPSE) and a paid-up capital of Rs. 26.40 Crores. With the issuance of the proposed right shares, the company’s paid-up capital will increase to Rs. 52.8 Crores. DHPL intends to utilize the funds raised from this issuance to clear the loans it has taken from banks.
Upper Syange Hydropower Limited has released its offer letter, signaling its intention to issue an Initial Public Offering (IPO) to the general public. The company plans to issue 539,500 unit shares with a face value of Rs. 100 each, starting from the 10th of Ashad, 2080. The goal is to raise Rs. 5.39 crore through this IPO. The initial closing date for the subscription is the 13th of Ashad, with a possible extension until the 24th of Ashad, 2080, if the issue is not fully subscribed.
Out of the total 650,000 units, 10% (65,000 units) has already been allotted to Nepalese citizens working abroad, 5% (32,500 units) has been set aside for mutual funds, and 2% (13,000 units) has been allocated for the company’s employees. The remaining 539,500 units are available for the general public. Following the IPO issuance, the company’s paid-up capital will increase to Rs. 22 crores.
Previously, the company had issued 2,20,000 unit shares worth Rs. 2.2 crores to project-affected locals in Lamjung District and 65,000 unit shares to Nepalese citizens working abroad. The promoter-public share ratio will be 60.45:39.55 after the completion of this IPO.
Siddhartha Capital Limited has been appointed as the issue manager for the IPO. Interested applicants can apply for a minimum of 10 units and a maximum of 100,000 units.
CARE Ratings Nepal Limited (CRNL) has reaffirmed the issuer rating of ‘CARE-NP BB (Is)’ for Upper Syange Hydropower Limited, indicating a moderate risk of default in meeting financial obligations in Nepal.
Upper Syange Hydropower Limited, originally incorporated as Upper Syange Hydropower Private Limited on January 26, 2009, converted to a public limited company on March 30, 2017. The company is promoted by individual and institutional promoters from various backgrounds. It is currently working on the development of a 2.4 MW Run-of-River (RoR) Upper Syange Hydropower Project (USHP) in Lamjung district, following the BOOT (Build, Own, Operate, and Transfer) mechanism.
The Nepal Stock Exchange (NEPSE) has made an adjustment to the share price of National Hydropower Company Limited (NHPC) on Ashad 1, Friday. This adjustment was necessary as NHPC closed its books in preparation for issuing right shares, prompting NEPSE to establish a new share price.
NEPSE has adjusted 50 percent of NHPC’s rightful shares, resulting in a revised share price of Rs. 182.7. This adjusted price was determined based on the closing price of NHPC’s shares in the previous trading day, which was Rs. 223.10. The revised share price will come into effect when trading resumes on Sunday in the secondary market.
NHPC has announced plans to issue 50% right shares worth Rs. 82.21 Crores. This entails offering a total of 8,221,459.7178 (10:5) units of right shares to its existing shareholders. Currently, NHPC’s paid-up capital stands at Rs. 1.64 Arba, and it will increase to Rs. 2.46 Arba following the issuance of the proposed right shares.
Ghorahi Cement Industry is now offering 69.11 lakh unit ordinary shares at a premium price of Rs 435 to the general public through an Initial Public Offering (IPO) that started on Jestha 32, 2080. The IPO will be open for subscription until Asar 4, 2080, and if necessary, the closing date may be extended until Asar 14, 2080.
Interested individuals can apply for a minimum of 10 units and a maximum of 10 lakh unit shares. This information has been provided in a media statement issued by the company.
After expanding its production capacity, Ghorahi Cement Industry can now produce 6000 tons of clinker and 4000 tons of grinding material per day, as stated in the media statement.